What Has Been the Growth of the Anti Thyroid Drugs Market So Far?
The anti thyroid drugs market has seen considerable growth due to a variety of factors.
• In recent years, there has been a consistent expansion in the size of the anti-thyroid drugs market. The market, which is projected to increase from $2.44 billion in 2024 to $2.5 billion in 2025, is expected to have a compound annual growth rate (CAGR) of 2.2%.
The previous period's growth can be credited to the widespread incidence of thyroid disorders, advancements in medicine creation, and the development of healthcare structures.
What Are the Future Growth Projections for the Anti Thyroid Drugs Market Size?
The anti thyroid drugs market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for anti-thyroid drugs is forecasted to exhibit solid expansion in the coming years, reaching a value of $2.78 billion in 2029 with a CAGR of 2.7%.
This growth during the predicted timeframe can be credited to factors such as increased patient awareness and education, healthcare spending, patient demographics, and worldwide economic conditions. Notably, the period is expected to see major trends such as alternatives to thyroid surgery and radioactive iodine, a focus on patient-oriented care, and the adoption of telemedicine and remote monitoring.
What Are The Key Drivers Fueling Growth In The Anti Thyroid Drugs Market?
The rise in cases of Graves' disease, which is an immediate cause of hyperthyroidism, has been observed. The US-based National Library of Medicine, owned by the United States federal government, states that Graves' disease (GD) is the leading cause of hyperthyroidism in developed nations. GD is typically prevalent among those aged between 30 and 60, with women being 5-10 times more vulnerable than men. A 79% genetic predisposition is related to the risk for GD, while 21% is attributable to environmental factors. The rise in Graves’ disease cases is causing an increase in hyperthyroidism sufferers. This has led to a surge in demand for anti-thyroid drugs, thereby propelling the market's growth.
What Are The Major Segments Within The Global Anti Thyroid Drugs Market?
The anti-thyroid drugs market covered in this report is segmented –
1) By Drug Type: Thionamides (Inhibition Of Hormone Synthesis), Iodides (Inhibition Of Hormone Release)
2) By Route of Administration: Oral, Intravenous, Other Route Of Administration
3) By Distribution Channel: Wholesaler Or Distributors, Retail Chain, Online Distribution, Other Distribution Channels
Subsegments:
1) By Thionamides (Inhibition Of Hormone Synthesis): Methimazole, Propylthiouracil
2) By Iodides (Inhibition Of Hormone Release): Potassium Iodide, Lugol's Iodine Solution
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Which Trends Are Expected To Transform The Anti Thyroid Drugs Market?
Organizations dedicated to thyroid health are stepping up efforts to promote knowledge on thyroid conditions, the latest therapy options, and recent findings in thyroid disorder research. It's estimated that around 60% of hyperthyroidism sufferers in the USA are undiagnosed and uninformed about their condition. To tackle this problem, several associations such as the American Thyroid Association (ATA) have embarked on educational campaigns about thyroid disorders. Likewise, the Thyroid Foundation of Canada is taking measures to raise public curiosity and consciousness about thyroid diseases, including hyperthyroidism. Other bodies, like the American Academy of Otolaryngology and the British Thyroid Foundation, are implementing awareness and outreach initiatives too.
Who Are the Key Players In The Anti Thyroid Drugs Market?
Major companies operating in the anti-thyroid drugs market include:
• Mylan N.V.
• Abbott Laboratories
• GlaxoSmithKline plc
• Merck & Co.
• AbbVie Inc.
• Pfizer Inc.
• Allergan plc
• RLC LABS Inc.
• Amgen Inc.
• Lannett Company Inc.
• Sanofi S.A.
• Novartis AG
• Teva Pharmaceutical Industries Ltd.
• Eli Lilly and Company
• Aspen Pharmacare Holdings Limited
• Astellas Pharma Inc.
• Takeda Pharmaceutical Company Limited
• Boehringer Ingelheim GmbH
• Daiichi Sankyo Company Limited
• Roche Holding AG
• Bayer AG
• Aurobindo Pharma Limited
• Dr. Reddy's Laboratories Ltd.
• Sun Pharmaceutical Industries Ltd.
• Cipla Inc.
• Lupin Limited
• Cadila Healthcare Limited
• Torrent Pharmaceuticals Ltd.
• Alkem Laboratories Ltd.
• Akorn Inc.
What Is The Most Dominant Region In The Anti Thyroid Drugs Market?
North America was the largest region in the anti-thyroid drugs market in 2023. The Middle East is expected to be the fastest-growing region in the anti-thyroid drugs market during the forecast period. The regions covered in the anti-thyroid drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
